Phoenix nurse, Sarah Martinez, needed $3,500 for unforeseen medical expenditures last month and found that the installment loan environment had changed drastically - no more exploitative 400% APR two-week payday loans. Leading companies offer genuine options with long periods and affordable pricing. Allied Market Research predicts the internet loan market will reach $674 billion by 2028. How will borrowers get through this?

The New Reality of Emergency Lending

It's a radical change for the payday lending industry. But traditional payday loans, with repayment terms of up to two weeks, often exacerbate financial insecurity: Federal Reserve data shows 37 percent of Americans cannot afford a $400 emergency expense. Along with this comes the emergence of many new installment loan companies with personal loans ranging from $100 to $5000 and repayment terms ranging from six months to seven years.